Upbit Suspends SNX Deposits Amid Volatility and Investment Warning

The post Upbit Suspends SNX Deposits Amid Volatility and Investment Warning appeared first on Coinpedia Fintech News

Upbit has announced that it will suspend Synthetix (SNX) deposits starting from April 24 at 15:00 KST. This action comes after the sUSD stablecoin failed to maintain its peg to 1 USD, causing significant volatility in the SNX token. The Digital Asset eXchange Alliance (DAXA) has also flagged SNX as an “investment warning asset,” signaling potential risks for investors. The suspension aims to protect users amid these concerns.